Hot Topic - Lagardère / Hachette
Most media mergers and acquisitions are rather trance-like. Bland lawyers mingle with equally bland accountants to engage in an incomprehensible kabuki to carve up companies, usually without the knives, and dice up the money. A century ago this was so much more fun, at least made for the movies. Alas, we return to those glory days of high drama.
Media proprietors exert undeniable control over their broadcasting and publishing assets. It is the benefit - and sometimes peril - of ownership. Outside of some public broadcasting structures, listeners, viewers and readers either accept what is distributed or, well, not. Most often, though not entirely, private sector media owners seek to monitize the most attractive product offer. There are certain variations.
It’s one of those seasons when everybody is a buyer and everybody is a seller. Marketplace changes have run smack into new technologies and a whole different media consumer. On top of that, money is no object.
Mergers and acquisitions in the media sphere have been moving toward more strategic dimensions. That’s not to say tactical competitive deals are out. These are just on the backburner as national competition authorities press harder on operational issues like employment and debt. As usual, banks and investment funds are cleaning up, literally and figuratively. There are targets of opportunity and many games to play.
Surprises in audience behavior, sometimes, are not surprises at all. Trends were there all along, some say. Special circumstances pop-up all the time, say others. Broadcast management tends to prioritize the here and now, relatively speaking. That's where the media buyers live; virtually, of course. A longer view just muddies the waters.
At a time when attention spans are challenged, advantage goes to the strongest brands. Weight is tipped to those with proven benefit. Marginal offers are, for the most part, set aside for easier times. Such is the reality of choice and novelty.
Sitting on the edge of the chairs is not a comfortable position. Working from home, however, gives some media executives a more comfortable seat on the living room couch. When the research person - or sales manager - phones nerves are still jangled. And the calls are inescapable.
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Media in Spain - Diverse and Challenged – new
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